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Arena Pharmaceuticals, Inc. Message Board

  • chrisanja chrisanja Jan 25, 2013 10:52 AM Flag

    Waiting game - .13 range 8.65 to 8.78

    Day 4 of the hold to get any margins owners sub-9$ out. I stress that this tight range (Bollinger band) precludes large increases. I'm positioned for a nice move next week.

    We are at the low end of the range, and the famous DT and MM and HF watch the entry point and let her rip when the time dictates.

    Have fun guys

    chrisanja $8.70

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    • .14 range - low volume.


      To those that believe there is no upside and no news, I will contend that this "range-bound" stock moves up and down (and is currently down). In late December, same was happening and in early Jan, there was quite a move.

      There does not need to be news. There are plenty of tutes getting in and DTs who will fan the flames upon ignition.

      Also, the Feb options are quite low - not in the cycle really. 700k shares worth of 9s. The max pain level is 12.

      It has been 9 in every month, and ten in quite a few months... 11 in January.

      You decide for yourself where it is going or not going, but I'm planning on at-least $10 in Feb and possibly $11. Wait until we have a 30M share day and you might believe me.

      Won't be sideways for the next 3 days.

      chrisanja $8.70

      • 1 Reply to chrisanja
      • Low is close, because when it was under $8 that was without final approval for sales. Well, that's been given. So, likely will stay in the high $8 range for 10 more trading days. May dip to $8.25, but likely $8.5 will be a bottom.
        I agree fully that $10 and likely $11 will be broken within 40 trading days.

        Sentiment: Hold

    • have order in for 8.58, just in case it takes a quick dive, but I bought a bunch for a trade at 8.70-8.75..Dont need any more long shares...BUT

    • I pretty much agree. Nothing much is going to happen for a while, until an "event" or when we are in closer proximity to an anticipated "event". Until then, it's all machine-trading with few real real buys and sells.

      • 1 Reply to iago4466
      • Tend to disagree that *nothing will happen*. We've had no news (DEA completion was non-event).

        Sure, there was the expectation / hope that CHMP would do something in JAN, but not sure if we retail fueled that. It was opex, no doubt.

        The same computers that drove it up in early Jan to over $11 might take hold again. The wrangling away of shares requires they move it around, playing 'games'. It just appears that support has been provided, and it's just a matter of time before .13 range is breached. Once it goes up, I wonder if this is not the signal to start a new round.

        Sure would be happier to see higher end of that .13 range, and then 'move north'.

        Support at 8.50 seems to have held.

        DTs - Do your stuff!

        chrisanja 8.74

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